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there is one protection already taken away.. What do you think the amount of reserves banks have to have on had is now? Its the lowest its been 20 years...02%
by shareme 16y ago
there is one protection already taken away..
What do you think the amount of reserves banks have to have on had is now? Its the lowest its been 20 years...02%
What does that mean?
That means each bank bank, individually, has to have .02% cash reserves or by law it has to close until it gets cash from the Federal Reserve to bring it up to that total..
Translation: all it takes is some depositors pulling out
$200,000k to make a statement to any bank branch and put in a credit union which by most state laws cannot enter
into transactions that bet against the customer..
This has already happen in Wisconsin..after that vote to ban unions..
We have the power folks..will we exercise it or sit on our lazy asses?
- yummyfajitas 16y agoThis has already happen in Wisconsin..after that vote to ban unions.. I'm pretty sure the vote you describe never occurred.